Questions
Is statesmanship possible in today’s political climate?

Is statesmanship possible in today’s political climate?

In: Economics

A company wants to replay a $117,053 debt making $463 quarterly payment for 21 quarters, then...

A company wants to replay a $117,053 debt making $463 quarterly payment for 21 quarters, then one final payment. If the interest is 14 per year, compounded quarter, how much is the final payment?

In: Economics

According to Coase's theory of the firm, why do firms exist? How do firms contribute to...

According to Coase's theory of the firm, why do firms exist? How do firms contribute to the efficiency of the market economy in ways that networks of independent contractors do not? How are the boundaries of the firm best established?


In: Economics

In this assignment you’ll examine the legal protections for e-commerce. From the readings or from your...

In this assignment you’ll examine the legal protections for e-commerce. From the readings or from your own research, choose three U.S. laws that regulate the use of the internet for commercial purposes. You can choose laws that protect the consumer, the provider, or both. In your discussion, also include the issue of jurisdiction when conducting e-commerce transactions. Provide an overview of each law and what it’s meant to prevent or protect. Based on what you’ve learned so far in the course, propose at least two legal or technological solutions that might enhance the transaction of business via the internet.

In: Economics

Consider a perfectly competitive firm that produces output using a wellbehaved production function y = f(x1,x2)....

Consider a perfectly competitive firm that produces output using a wellbehaved production function y = f(x1,x2). Let the price of output be denoted by p, the price of input 1 be denoted by w1, and the price of input 2 be denoted by w2.
(a) State the firm’s cost-minimization problem, and draw the solution to the cost minimization problem on a graph.
(b) What are the solutions to the cost-minimization problem? What are these solutions called? Which variables are these solutions a function of?
(c) Which 2 conditions must be satisfied for an input bundle to be considered cost minimizing, assuming an interior solution? Why? Explain your answer.
(d) Derive the firm’s cost function. What role do your answers in part (b) play in deriving the cost function?

In: Economics

The government decides to address negative pollution externalities in a given market by issuing and selling...

The government decides to address negative pollution externalities in a given market by issuing and selling a fixed value of pollution permits. In other words, firms need to pay for the right to pollute by purchasing these permits. Describe what will happen to the price of permits (and why) under each of the following scenarios. Be sure to illustrate your answers with the appropriate graphs depicting any changes taking place in the permits market.

a) The government decides to allow for more pollution by increasing the number of permits issued.

b) New technologies emerge making it easier (and cheaper) to produce while generating less pollution.

c) The economy undergoes a strong expansion and demand for commodities rises as a result.

In: Economics

Suppose that a firm finds that its low-productivity workers have a marginal revenue product of $21,000...

  1. Suppose that a firm finds that its low-productivity workers have a marginal revenue product of $21,000 per year and that its high-productivity workers have a marginal revenue prod- uct of $35,000 per year. The cost of receiving a year’s worth of higher education is $4,000 for a low-productivity worker and $3,200 for a high-productivity worker. (This cost can be thought of as repayment on loans that have been incurred in the process of obtaining the education.) The firm plans to offer a wage of $21,000 to workers without higher education and $35,000 to workers who attain a “certain” level of higher education.

    1. If this firm uses this pair of wage offers and wishes to create a separating equilibrium using education as a separating device, how many years of education should be re- quired to receive the higher wage?

    2. Why does education work as a signal in this instance?

    3. Does education increase the marginal productivity of workers in this instance?

In: Economics

Consider the market for minivans. For each of the events listed below: → identify which of...

Consider the market for minivans. For each of the events listed below:

→ identify which of the determinants of supply are affected

→ indicate whether supply increases or decreases

→ draw a diagram to show the effect on the supply curve. (Make sure to label the axes.)

a. (0.5 pt) A strike by steelworkers raises steel prices.

b. (0.5 pt) Engineers develop new automated machinery for the production of minivans

Please draw the graph as well

In: Economics

Provide five (5) reasons why product prices are sticky in the short run.

Provide five (5) reasons why product prices are sticky in the short run.

In: Economics

To automatically insert electronic components in printed circuit boards for a cell phone production line, a...

To automatically insert electronic components in printed circuit boards for a cell phone production line, a $500,000 surface mount placement (SMP) machine is being evaluated by a manufacturing engineer at Motorolla. Over the 10-year planning horizon, it is estimated the SMP machine will produce annual cost savings of $92,500. The engineer estimates the machine will be worth $50,000 at the end of the 10-year period. Based on the firm’s 10% MARR, how long does it take for the new SMP machine to fully recover its initial cost, including the Time Value of Money (TVOM)? use discounted payback period

In: Economics

400-word memo on the push for a plastic-free society, how businesses are responding to it and...

400-word memo on the push for a plastic-free society, how businesses are responding to it and commentary on the issue. Typed Please. Cite any sources if used.

In: Economics

What is labor market discrimination? What evidence do we have that it exists? What models describe...

What is labor market discrimination? What evidence do we have that it exists? What models describe the existence (or lack of existence) of labor market discrimination? What policies are available to combat this discrimination? Are these policies effective?

In: Economics

The company wishes to maximize the total revenues. Can you comment without doing any calculations whether...

The company wishes to maximize the total revenues. Can you comment without doing any calculations whether the price would need to be higher or lower than the profit-maximizing price? Explain your answer (Make sure not to use any calculations/numbers to explain your answer).

In: Economics

1) In your opinion, what are the two most important tools/programs that have been implemented this...

1) In your opinion, what are the two most important tools/programs that have been implemented this year by the Federal Reserve and the US Congress in their attempt to fend off a deep Covid-19 based recession? What evidence do you have in actual results or from an example in the textbook?

2) In your opinion what are a few potential long term effects of these actions on the economy?

In: Economics

Suppose XER Inc. is a monopoly that produces a drug that cures the common cold. The...

Suppose XER Inc. is a monopoly that produces a drug that cures the common cold. The weekly (inverse) market demand* for its product takes the form P=580-6Q, where Q is measured as the number of tablets. The marginal and average costs are $100 per tablet.

Solve for:

(a)  Solve for the weekly level of output (measured in the number of tablets per week) that will be produced by XER Inc. if it maximizes profits

(b) Solve for

(i) the profit-maximizing price-per tablet charged,

(ii) total weekly revenue and

(iii) the amount of economic profits earned by XER, Inc.

(c)

(i) Calculate the weekly quantity sold

(ii) Calculate the total weekly revenues for XER, Inc. IF the firm operated under perfectly competitive market conditions (i.e., assume that that XER faces the same demand curve but that, as in competitive markets, the equilibrium price and quantity is where P=MC.)

(d)

Compare answers to sub-questions a & b to those for sub-question c and assess the differences in output, prices, total revenues, total costs and economic/excess profits under the two different market conditions.

In: Economics